Trump’s Multibillion-Dollar Social Media Company Will Start Trading on Tuesday

2024-03-25 17:39:26+00:00 - Scroll down for original article

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Former President Donald J. Trump’s social media company officially became a public company on Monday morning, and in the process the former president’s net worth has jumped by billions of dollars. A lawyer for Trump Media & Technology Group filed papers on Monday with the Delaware Division of Corporations, which said the company’s merger with a cash-rich shell company had formally closed. On Friday, shareholders of Digital World Acquisition Corp. approved the long-delayed merger with Trump Media by an overwhelming majority. Trump Media announced in a regulatory filing with the Securities and Exchange Commission that shares of the company would begin trading on the Nasdaq on Tuesday, under the stock symbol “DJT.” The stock jumped after the announcement and ended the day at $49.95 per share, up 35 percent. Trump Media is now valued at more than $6 billion — even though its flagship Truth Social digital platform took in just $3.3 million in revenue during the first nine months of 2023.